The Securities and Exchange Board of India (“SEBI”) has issued a circular dated December 20, 2024 outlining industry standards for the reporting of the Business Responsibility and Sustainability Report (“BRSR”) Core. Key details of the circular are as follows:
Purpose:
To facilitate ease of doing business and bring standardization in the implementation of BRSR Core disclosures as required under Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Chapter IV-B of the SEBI master circular issued on November 11, 2024.
Formation of Industry Standards Forum (ISF):
The ISF comprises representatives from ASSOCHAM, CII, and FICCI, under the aegis of recognized stock exchanges. In consultation with SEBI, the ISF has developed industry standards to ensure effective compliance with the disclosure requirements.
Publication of Standards:
The formulated industry standards will be published on the websites of ASSOCHAM, CII, FICCI, and the recognized stock exchanges.
Compliance by Listed Entities:
Listed entities are required to adopt these industry standards for disclosures under BRSR Core, starting from the Financial Year 2024-25 and onwards.
The implementation of SEBI-approved industry standards for BRSR Core reporting marks a significant step toward enhancing transparency and uniformity in sustainability disclosures by listed entities.
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